The agreement with the leading cinema operator comes shortly after the new owners’ announcement of revitalisation plans
Mülheim, 26 September 2023 – Positive news for the new owners of the Rhein-Ruhr Zentrum (RRZ) Mülheim: anchor tenant CinemaxX has announced it will extend its rental agreement for a further 15 years. The extension with the leading cinema brand signals their clear commitment to the location—and support for the revitalisation plans from the centre’s new owners, Eurofund Group and Signal Capital Partners’ strategic partners. The CinemaxX in RRZ currently operates a total of 11 screens with almost 3,000 seats, spanning a total area of 7,900 square metres. CinemaxX has been a tenant at the centre in Mülheim since 1997. The operator is a division of the global cinema company Vue International and offers a premium cinema experience featuring immersive screens, backed by innovative image and sound technology. Numerous renovation and modernisation measures are planned for the location.
Ian Sandford, President of Eurofund Group: “This is a strong commitment from CinemaxX to the location and underlines the confidence in our plans to transform the centre into a highly attractive shopping resort for the entire region. We are looking to restore the Rhein-Ruhr Centre a regionally important and innovative district centre, with a strong selection of the latest shopping and entertainment options.”
Frank Thomsen, General Manager of CinemaxX, also looks forward to the brand’s future in the Rhein-Ruhr Centre: “Just like the screen is an integral part of the cinema, this CinemaxX is an integral part of Mülheim. After all, we have been welcoming our visitors and cinema fans here for over a year 25 years and now one thing we will continue to offer them the best entertainment for years to come, remaining true to our motto FILM IS NOW—and continue to ensure unique cinema experiences.”
On July 19, 2023, the pan-European real estate investment and development company Eurofund Group and the London private equity company Signal Capital Partners signed a purchase agreement for the 200,000 square metre Rhein-Ruhr Centre in Mülheim. Around 180 million euros will be invested in the invested in the RRZ over the next few years. The Rhein-Ruhr Centre is located in one of Germany’s largest metropolitan areas, the Rhein-Ruhr region, with more than ten million inhabitants and attracts visitors from Essen, Oberhausen, Duisburg and Düsseldorf. The centre looks back on an important history. It was opened on March 1, 1973 and was considered an important milestone in the economic history of the prosperous city of Mülheim. With its successful mix of retail and gastronomy, the Rhein-Ruhr centre has been a pioneer and attraction for people from the region for 50 years.
– ENDS–
Press contact for Eurofund Group Germany
Gonca Mucuk, Lottmann Communications
Eurofund Group corporate media enquiries
Oliver Kirman, Innesco
About Eurofund Group
Eurofund Group is an investment and development company operating in Spain, Portugal, UK and Italy. The group includes Eurofund Retail, a Living division that already operates as Tribu, (a co-living space in London) and they are soon planning to invest in Senior Living projects, and The Hood, an innovative anti-mall concept that combines street food, leisure, and cultural activities already operating in Lisbon.
Some of the company’s most notable projects include Puerto Venecia Zaragoza, voted the best shopping center in the world at MAPIC 2013; the acquisition of UBBO (formerly Dolce Vita Tejo) in Lisbon, where Eurofund Group has transformed it into the first Shopping Resort in Portugal; and the recent acquisition of Silverburn, the benchmark shopping center in Glasgow, UK. In 2022, Eurofund Group entered Italy with the agreement to acquire Parma Retail, and transform it to Parma Promenade. In July 2023, Eurofund Group continued its geographical expansion with the acquisition of Rhein Ruhr Zentrum in Mulheim, Germany, through a strategic partners with Signal Capital Partners
For more information about Eurofund Group, please visit: www.eurofundgroup.com
About Signal Capital Partners
Signal Capital Partners is a €2.5 billion London-based private asset management firm focused on European corporate and real estate investments in special situations.
About CinemaxX
The CinemaxX Group is one of the best-known cinema operators in Germany and includes 30 cinemas with a total of 257 screens in 26 cities. In 1990 the CinemaxX brand was launched. CinemaxX stands for the highest quality standards in the areas of image, sound and seating comfort and employs around 1,300 people. From its headquarters in Hamburg, the company carries out all support activites for the 30 cinemas across Germany. Since 2012, CinemaxX has been part of Vue International, one of the world’s leading private cinema operators, based in London. The company operates the most respected brands in key European markets and Taiwan—its portfolio covers in 228 locations with 2,000 screens in a total of nine countries. The Vue Group is a market leader in geographies including Great Britain, Ireland, Germany, Denmark, the Netherlands, Italy, Poland, Lithuania and Taiwan.
